Non Poolable Covers. Introduction

Transcription

1 Non Poolable Covers

2 Non Poolable Covers Introduction Members of the Club are insured for protection and indemnity (P&I) risks in accordance with the standard terms of entry, set out in the Rules. These reflect the terms of the International Group s Pooling Agreement, which, amongst other things, makes provision for what claims may be pooled amongst the Group Clubs, and what liabilities and expenses cannot be pooled and are thus excluded from Group arrangements. The Pooling Agreement encompasses risks that are common to the majority of shipowners. Its scope of cover has evolved over the years, and continues to evolve, to meet the changing and developing needs of the industry

3 Generally speaking, risks are excluded under the Pooling Agreement if, for instance, they are considered not to be sufficiently mainstream to warrant mutual cover (e.g. certain offshore activities); or if they involve particularly onerous contractual terms that a Member may be required to agree for commercial reasons. These claims are thus excluded under the normal terms of Club entry and under the rules of the Club. Nevertheless they represent risks for which many Members require cover. The Club is able to provide such extended cover for a wide range of non-poolable liabilities and costs, with limits available up to US$1 billion. This includes cover for contractual indemnities, risks relating to non-eligible persons, specialist operations, offshore operations and non-poolable cargo liabilities. The scope of coverage is flexible and can be individually tailored to accomodate an individual Member s requirements. The Club will always assist Members in trying to provide solutions for new and uncommon risks, as they arise. The Club is able to provide such extended cover for a wide range of non-poolable liabilities and costs, with limits available up to US$1 The billion. Club is able to provide such extended cover for a wide range of non-poolable liabilities and costs, with limits available up to US$1 billion.

4 The Club will always assist Members in trying to provide solutions for new and uncommon risks, as they arise.

5 In Brief These covers (available with limits up to US$1 billion) encompass the full range of P&I risks as set out in the Rules, when they would not otherwise be covered because of policy restrictions/exclusions under the Rules. In other words, extended covers include the usual P&I risks when caused by or relating to an activity, event or transaction that would result in a limit upon or exclusion from standard cover. As and when different needs arise we can also provide further extended covers which cater for the Member s requirements. Covers Available: Cargo Ad valorem bills of lading Ante/post-dated bills Bullion and cash Carriage on more onerous terms than Hague or Hague- Visby Rules/COGSA including waiver of normal defences and/or limitation rights Consortium risks on non-standard terms Delay beyond agreed delivery date Delivery at non-contractual ports Delivery without original bills of lading Deviation (geographical) Dry docking with cargo on-board General average on non-standard terms Liabilities arising before or after sea carriage including warehousing, caused by events off the vessel Liabilities for shoreside losses other than to cargo itself (for example to third parties) Liabilities as cargo owners/shippers Livestock on special terms Non-contractual discharge/mis-delivery of cargo On-deck carriage with under-deck bills of lading Other liabilities arising before or after sea carriage including warehousing, when not related to sea carriage Through transport, multi modal, combined transport on non- standard terms. Note: Mis-delivery claims can arise in a number of different circumstances, and if the Member, without intending any breach, discharges cargo into the wrong hands or at the wrong place, extended cover is available. Members can also be covered for liabilities that may arise if they unintentionally issue incorrect documentation (e.g. ante-dated bills of lading).

6 Co-Assureds - Status and Eligibility Cover for unconnected companies which are not directly involved in the operation of the vessel e.g unrelated charterers, shippers, ports and terminals, agents, customers and other independent third parties. Note: A Member may be required to co-insure his contracting party. The Club can provide such insurance, naming and waiving the other party. This amounts to a form of co-insurance and it may be suitable for a Member who does not wish to accept the risk that the alternative (an indemnity from his contractual counterpart) may be unenforceable. The International Group s Pooling Agreement contains quite complex conditions and exclusions insofar as co-assurance is concerned, and the availability of these extended covers addresses many of these restrictions. Crew and Other Personnel On-Board Crew only cover Concessionaires Liabilities for crew who are not serving on or attached to a vessel (for example if they are on leave and not otherwise engaged in vessel duties relating to or arising from vessel operations/crew employment) Liabilities on-board prior to delivery, including prolonged familiarisation, and after the vessel s sale Licensees, contractors, non-marine personnel under special contracts Non-standard crew contracts Property of crew. Note: The International Group can pool claims for injury, illness or death of crew who are placed on the vessel prior to its delivery and before full P&I cover attaches. However, liability for injury or loss or harm caused by the pre-delivery crew to others or to property on board is not poolable, and extended cover is available for this risk.

7 Cover continues to evolve, to meet the changing and developing needs of the industry. Diving Excluded diving operations ROVs and mini submarines. Heavy Lift Coverage under terms otherwise than on knock for knock or other poolable conditions.

8 Indemnities Acceptance of liability for a third party s actions and/or for the consequences of their negligence Surrender of defence, limitation and other rights, including for offshore activities. Note: This cover includes P&I liabilities for which the member is required to accept responsibility under particularly onerous contractual terms (i.e terms which impose significantly greater exposure than would otherwise arise at law or under approved contracts). Passengers Air travel to reach the port of embarkation or to return home after disembarkation Athens convention (PLR) War Risks Doctors negligence/malpractice Extended non-standard passenger ticket terms Hotel accommodation and related risks pre/post embarkation Shore excursions and tour operators liabilities (separately ticketed) Shoreside recreation and activities at Member owned property and facilities. Note: Some cruise operators provide extensive off vessel entertainment for their passengers. These activities, whilst generally not poolable, can be insured by the Club. The Athens Convention (PLR) requires that owners are insured for poolable and non-poolable risks and the Club can provide cover for both.

9 Pollution Clean up organisations agreements with response contractors that are non-poolable because of unacceptable contractual terms. Specialist Operations / Non Standard Offshore Activities Accommodation of non marine personnel Blasting Core sampling Dredging/depositing spoil Drilling Exploration Maintenance and repair Pile driving Pipe/cable laying Power generation Sub sea construction Waste disposal Well intervention. Note: This list covers a large range of activities, and tailored cover is available for these and other additional risks. These covers are available to Members including operators of specialist craft in the offshore, marine energy and construction industries- AHVs, DSVs, PSVs, FSVs, MPSVs pipe-lay vessels, etc. Vessels which are built for oil and gas exploration and production are not insured under the Pooling Agreement and are not normally eligible for these extended covers. Towage Non Standard Terms Towage by or of an entered vessel on less favourable terms than required for pooling. e.g. contracts which do not contain a suitable knock for knock provision. Wreck Removal In accordance with contract terms imposing liability for wreck removal when not compulsory under law.

10 Limits of Liability Limits are available up to US$1 billion, including fees, costs and expenses. Separate limits for different headings of cover can be provided under the same policy by agreement. Premium Fixed, with no liability for additional calls Flexible rating methods, as suited to the nature of the cover Can be written as individual covers, or as open covers with declarations in arrears if required. Claims Our claims teams have extensive experience in handling all types of claims and are able to assist Members not only in response to incidents/casualties but also in advising how to reduce or minimise exposure. Notes Terms are written pursuant to the Club s Class 1 P&I Rule 4. The War Risks Extension and Bio-Chem covers that are included under the Club s Class 1 P&I Rules do not apply to these Cover Extensions, although War Risks P&I can be reinstated by agreement. Other Covers (see related brochures) Charterers covers, including extended liabilities War Risks and Kidnap & Ransom Extended liabilities in respect of yachts Fixed premium covers at lower limits for non-mutual entries Crew illness and medical expenses package provided and underwritten by Allianz Worldwide Care.

11 European Syndicate Rupert Harris Head of Reinsurance and Underwriting +44 (0) (0) Ben Dyer Director of Underwriting +44 (0) (0) Americas Syndicate Gary Field Head of Underwriting +44 (0) (0) Sarah Chase Syndicate Manager Underwriting +44 (0) (0) Eastern Syndicate Jonathan Andrews Head of Underwriting +44 (0) (0) JS Kim Director Underwriting +44 (0) (0) Singapore Office Jerry Westmore Chief Executive Hong Kong Office Eric Wu Associate Director eric.wu@simsl.com Tokyo Office James Ingham Director + 81 (0) (0) james.ingham@simsl.com Ryuji Toki Underwriting Executive ryuji.toki@simsl.com

12 Steamship Insurance Management Services Limited Aquatical House, 39 Bell Lane London, E1 7LU Telephone: +44 (0) & +44 (0) Steamship Insurance Management Services Ltd Download our Apps at itunes.apple.com or play.google.com London Hong Kong Rio De Janeiro Piraeus Singapore Tokyo